Wire and Cable Market Expected to Reach $323.8 Billion, Globally, By 2032 at 4.6% CAGR: Allied Market Research

Jun 07, 2023

News provided by

13 Jul, 2023, 10:01 ET

Share this article

The global wire and cable market is driven by factors such as a surge in demand for investments in the industrial sector, a rise in urbanization, increased investments in the transmission and distribution of electric power.

PORTLAND, Ore., July 13, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Wire and Cable Market By Installation Type (Overhead, Submarine, and Underground), Voltage (High, Medium, and Low), Vertical (Energy and Power, Aerospace and Defense, IT and Telecommunication, Industrial, Oil and Gas, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global wire and cable was valued at $213.6 billion in 2022, and is projected to reach $323.8 billion by 2032, registering a CAGR of 4.6% from 2023 to 2032.

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/4805

Prime Determinants of Growth:

The global wire and cable market is driven by factors such as a surge in demand for investments in the industrial sector, a rise in urbanization, increased investments in the transmission and distribution of electric power which fuels the demand for cables. However, complex fault detection and removal processes hamper market growth to a certain extent. Moreover, favorable renewable energy policies provided by the governments of key countries provide lucrative opportunities for market growth.

Report Coverage and Details:

Report Coverage

Details

Forecast Period

2022–2032

Base Year

2022

Market Size in 2022

$213.6 Billion

Market Size in 2032

$323.8 Billion

CAGR

4.6 %

No. of Pages in Report

274

Segments Covered

Installation Type, Voltage, Vertical, and Region

Drivers

Surge in demand for investments in the industrial sector and rise in urbanization to drive the market growth

Increased investments in transmission and distribution of electric power fuels the demand for wires and cables

Opportunities

Favorable renewable energy policies provided by the governments of key countries

Restraints

Complex fault detection and removal process of errors restricting the market growth

COVID-19 Scenario:

The overhead segment to maintain its leadership status throughout the forecast period

By installation type, the overhead segment held the highest market share in 2022, accounting for nearly three-fifths of the global wire and cable market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is due to the rapid urbanization and industrialization in the developing countries, including India and China, which drives the growth of this market, primarily fostering the growth of the overhead segment. The submarine segment is projected to manifest the highest CAGR of 5.85% from 2023 to 2032. The major factors fueling the growth of the segment include expanding offshore wind power capacity, growing demand for bandwidth due to the emergence of 5G, and an increasing network of submarine cable systems.

The low segment to maintain its lead position throughout the forecast period

By voltage, the low segment held the highest market share in 2022, accounting for more than two-fifths of the global wire and cable market and is estimated to maintain its lead position throughout the forecast period. The increasing need for grid interconnections is resulting in rising investments in the new submarine and underground low voltage wire and cable market. However, the high segment is projected to manifest the highest CAGR of 5.58% from 2023 to 2032. The growth is attributed to the growing offshore wind farms, high voltage direct current links, and grid interconnections. Increasing need for grid interconnections is resulting in rising investments in the new submarine and underground high voltage wires and cables market.

Asia-Pacific to maintain its dominance by 2032

Based on region, Asia-Pacific held the highest market share in 2022, accounting for nearly half of the global wire and cable market revenue, and is expected to maintain its dominance in terms of revenue during the forecast period. The booming e-commerce and logistics industries in the Asia-Pacific region have fueled the demand for wires and cables. also due to the increase in domestic automotive demand in the emerging markets of India and China. However, the Europe region is expected to witness the fastest CAGR of 5.91% from 2023 to 2032. Growth in the automotive and consumer electronics sectors fosters several growth opportunities for wire and cable vendors in Europe.

Want to Access the Statistical Data & Graphs, and Key Players' Strategies: https://www.alliedmarketresearch.com/purchase-enquiry/4805

Leading Market Players:

The report provides a detailed analysis of these key players in the global wire and cable market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.

Key Benefits For Stakeholders:

Wire and Cable Market Key Segments:

By Installation Type:

By Voltage:

By Vertical:

By Region:

Procure Complete Report (274 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/3NOdyNa

Trending Reports in Semiconductor and Electronics Industry (Book Now with 10% Discount + COVID-19 Scenario):

Cables and Wires For Aerospace and Defense Market By Type (Cable, and Wire), Voltage (Low Voltage, Medium Voltage, High Voltage, and Extra High Voltage), Application (Communication Systems, Navigation Systems, Military Ground Equipment, Power Distribution, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Copper Wire and Cable Market By Type (Wire and Cable), Voltage (Low, Medium, and High), and Application (Building Wire, Communication, Power Distribution, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

Insulated Wire and Cable Market By Material (Metal, Plastic, and Optical Fiber), Installation (Overhead, Underground, and Submarine), Voltage (Low Voltage, Medium Voltage, and High Voltage), and End User (Telecommunication, Energy & Power, Electronics, Construction, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027

Automotive Data Cables Market By Cable Type (Controller Area Network [CAN], Low Voltage Differential Signaling (LVDS)/High Speed Data (HSD), FlexRay, Ethernet, Controller Area Network Flexible Data-Rate (CAN-FD), and Coaxial Cables), Vehicle Type (Passenger Vehicles, and Commercial Vehicles), and Application (Safety and ADAS, Body Control and Comfort, Infotainment and Communication, and Powertrain): Global Opportunity Analysis and Industry Forecast, 2021-2031

Consumer Active Optical Cable Market By Technology (InfiniBand, Ethernet, HDMI, DisplayPort, and USB), and Connector Type (CFP, SFP, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa5933 NE Win Sivers Drive#205, Portland, OR 97220United StatesUSA/Canada (Toll Free):+1-800-792-5285, +1-503-894-6022UK: +44-845-528-1300Hong Kong: +852-301-84916India (Pune): +91-20-66346060Fax: +1(855)550-5975[email protected]

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

SOURCE Allied Market Research